DALLAS, Feb. 7, 2013 /PRNewswire/ -- MetroPCS Communications, Inc. (NYSE: PCS; "MetroPCS" or the "Company") today reaffirmed its commitment to the proposed combination of MetroPCS and T-Mobile USA announced October 3, 2012 in response to a letter from P. Schoenfeld Asset Management ("PSAM"), which says our clients are shareholders of MetroPCS Communications, Inc. and own an aggregate position of approximately 7,500,000 shares. MetroPCS issued the following statement:
"The MetroPCS Board of Directors and management team have been and remain committed to acting in the best interests of all MetroPCS stockholders. The Board believes that the proposed combination with T-Mobile is in the best interests of MetroPCS and all MetroPCS stockholders and continues to recommend that MetroPCS stockholders vote in favor of the proposed combination."
"As outlined in the Company's preliminary proxy statement on file with the Securities and Exchange Commission, the pending transaction with T-Mobile is the result of a thorough process that began over two years ago and included the Board and a special committee of the Board considering a number of potential transactions with different strategic partners. The Board and its special committee, in consultation with the Company's and the special committee's financial and legal advisors, will carefully review and consider the perspectives provided in PSAM's letter."
About MetroPCS Communications, Inc.
Dallas-based MetroPCS Communications, Inc. (NYSE: PCS) is a provider of no annual contract, unlimited wireless communications service for a flat-rate. MetroPCS is the fifth largest facilities-based wireless carrier in
the United States based on number of subscribers served. With Metro
USA(SM), MetroPCS customers can use their service in areas throughout
the United States covering a population of over 280 million people. As of
December 31, 2012, MetroPCS had approximately 8.9 million subscribers. For more information please visit